Pay czar: 17 bailed-out banks overpaid executives

The government's pay czar announced Friday that 17 companies benefiting from federal bailout money handed out $1.6bn in excess executive pay at the height of the financial crisis. The firms include Citigroup, Goldman Sachs and Bank of America.Kenneth Feinberg, who was appointed as the Obama administration's special master for compensation, examined executives earning more than $500,000 at the 419 firms that received taxpayer assistance.